Pyth Network (PYTH) is 61468.2× the size of Ocula (OCULA) by market capitalisation. Their daily returns move barely together (correlation 0.25 across 34 shared trading days). OCULA has been the more volatile of the two, at 305% annualised against PYTH's 98%.
OCULAPYTH
0.25over 34 shared trading days
Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.
| Metric | OCULA | PYTH |
|---|---|---|
| Max drawdown (400d) | -88.1% | -81.1% |
| Risk-adjusted return (90d) | -0.27 | 0.78 |
| Best 30 days (past year) | — | +76.8% |
| Worst 30 days (past year) | — | -46.7% |
Relative strength over 90 days: PYTH outperformed OCULA by 81.1% — measured on the OCULA/PYTH ratio, so it holds regardless of market direction.